Question 1

Paradise Kitchens proposes entering 17 new metropolitan markets in the next five years.For this reason,the financial plan cannot use simple trend extrapolation.Instead,the forecasting method used was

Accepted Answer

A)  curvilinear trend extrapolation.
B)  management judgment.
C)  survey of buyers intentions.
D)  sales force survey.
E)  direct forecasting.F) A) and B)
G) B) and D)

Question 2

It can be inferred from the Paradise Kitchens mission statement that they will most likely use a __________ strategy.

Accepted Answer

A)  penetration pricing
B)  skimming pricing
C)  prestige pricing
D)  specialty product pricing
E)  basing point pricingF) D) and E)
G) A) and B)

Question 3

A __________ is a road map for the marketing activities of an organization for a specified future time period,such as one year or five years.

Accepted Answer

A)  marketing plan
B)  mission statement
C)  operation plan
D)  business plan
E)  marketing dashboardF) A) and B)
G) All of the above

Question 4

Which of the following statements is best suited for a business or marketing plan?

Accepted Answer

A)  This will be a fantastic,once in a lifetime opportunity in the amazing world of chocolate lovers.
B)  This product offers a unique opportunity to meet the needs of consumers who love the flavor of chocolate but who are allergic to cocoa.
C)  What could be better than chocolate? Nothing! That's why this is a phenomenal opportunity for those who really understand the exciting world of chocolate.
D)  We are not kidding.This new non-cocoa chocolate candy is simply irresistible; everyone we gave a sample to fell in love with it.
E)  The fact that this chocolate-flavored candy does not contain cocoa should be a selling point.F) D) and E)
G) A) and B)

Question 5

Charts are often used to __________ and __________.

Accepted Answer

A)  prioritize marketing activities; set deadlines
B)  assign tactical marketing decisions; specify target markets
C)  prioritize marketing activities; assign resources
D)  specify target markets; assign resources
E)  set deadlines; assign responsibilities for tactical marketing decisionsF) A) and C)
G) A) and B)

Question 6

Elements in a marketing plan depend on who the audience is and what its purpose is.For example,the marketing plan for an internal audience would __________.

Accepted Answer

A)  be informally written
B)  contain specific financial details
C)  point the direction for future marketing activities
D)  explain organization and structure
E)  provide biographical information of key playersF) A) and B)
G) B) and E)

Question 7

Which of the following did Paradise Kitchens considered a Weakness?

Accepted Answer

A)  unique,high-quality,high-price products
B)  many lower-quality,lower-price competitors
C)  technical breakthroughs enable smaller food producers to achieve the same economies of scale available to large competitors
D)  consumer income is high and convenience is important to U.S.households
E)  more households "eating out" and bringing prepared take-out into the homeF) None of the above
G) C) and D)

Question 8

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

Accepted Answer

A)  Who is your competition and what are they doing?
B)  Who will be your key suppliers?
C)  Does the plan clearly describe how those providing capital will get their money back and make a profit?
D)  What are your taxes?
E)  Does the prospective product meet all government safety standards?F) B) and E)
G) All of the above

Question 9

The Paradise Kitchens chart for the Organization section of its marketing plan reflects the bare-bones organization structure of successful small businesses.The four key positions that report to the President & CEO include the following: Director of Operations,__________,Director of Finance and Administration,and Director of Sales.

Accepted Answer

A)  Director of Advertising and Promotions
B)  Director of Research and Development
C)  Vice President of Marketing
D)  Director of Human Resources
E)  Senior Distribution ManagerF) All of the above
G) C) and D)

Question 10

The Marketing Program section of a marketing plan consists of

Accepted Answer

A)  the four marketing mix elements.
B)  the five environmental forces.
C)  the financial forecasts for the industry and the company itself.
D)  the target market identification and market segment selection.
E)  the specific steps that will be taken to implement the plan.F) A) and B)
G) B) and C)

Question 11

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

Accepted Answer

A)  Use bullet points for succinctness and emphasis.
B)  Use different color fonts or paper to represent different sections of your plan.
C)  Include as an attachment the résumés for all key players in your management team.
D)  Do not use a business plan unless you plan to borrow at least $100,000.
E)  To save paper,send the plan in digital (Adobe Acrobat PDF) format to all potential investors.F) A) and B)
G) A) and E)

Question 12

The SWOT analysis section of a marketing plan identifies a company's

Accepted Answer

A)  new technological innovations.
B)  strengths,weaknesses,opportunities,and threats.
C)  marketing program.
D)  barriers to entry.
E)  sustainable competitive advantages.F) A) and E)
G) C) and D)

Question 13

Which of the following statements regarding business or market plan page length is most accurate?

Accepted Answer

A)  As a quick rule of thumb,there should be one page for every $10,000 required in the projected budget.
B)  The length of a business plan should never be less than 30 pages or greater than 35 pages in length.
C)  The length of the body of the plan should be between 15 and 30 pages including financial projections and appendixes.
D)  For every page in the body of the work,there should be at least one additional page in the appendix to complement it.
E)  Although general guidelines suggest a length of 15 to 35 pages,the length of the plan should reflect the complexity of the product or service.F) A) and D)
G) B) and E)

Question 14

Which of the following goals uses parallel construction?

Accepted Answer

A)  Make the best non-battery flashlight possible,make the brand name known in every household in the United States,and make the flashlight the official flashlight of every state-owned hospital in the United States.
B)  To make the finest bicycles in the professional racing field,to attain sponsorship from at least three top Olympic riders,and obtain a return on equity of at least 15 percent.
C)  Enter three major markets in the next three years,maintain a market share above 20 percent,while continuing to provide the best customer service according to industry polls.
D)  To increase market share by at least 10 percent each year for the next five years,reduce employee turnover by 20 percent within the next five years,and to obtain a return on equity of at least 15 percent for each of the next five years.
E)  Generate sales of $100 million,generate ROI of 20%,and maintaining selling costs at 10% of sales.F) A) and B)
G) A) and C)

Question 15

To translate its core competencies into a sustainable competitive advantage,Paradise Kitchens will work closely with key

Accepted Answer

A)  lenders and venture capitalists
B)  suppliers and distributors
C)  advertising agencies and public relations firms
D)  federal and state regulators to import tariff free ingredients
E)  Hispanic spokespeople to "get the word out."F) C) and E)
G) A) and D)

Question 16

The Place/Distribution Strategy section in the Paradise Kitchens marketing plan specified that Howlin' Coyote chili will INITIALLY be sold

Accepted Answer

A)  to restaurants specializing in American cuisine.
B)  through company-owned stores at outlet malls.
C)  exclusively to mass merchandisers such as Walmart and Target.
D)  through a food distributor,which in turn will sell directly to grocery stores.
E)  online to consumers to bypass "the middleman;" the product will be shipped using packed dry ice containers to keep it frozen during transportation.F) A) and D)
G) A) and C)

Question 17

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

Accepted Answer

A)  Are the financial projections realistic and healthy?
B)  Does the prospective product meet all government safety standards?
C)  Who is your competition and what are they doing?
D)  Who will be your key suppliers?
E)  What are your taxes?F) All of the above
G) A) and E)

Question 18

Shorter tables or graphs

Accepted Answer

A)  must start at the top of a new page so as not to create page break problems.
B)  can be inserted anywhere in the page of text in a plan and do not have figure numbers.
C)  should not be used since words would be more effective in describing the content than a table or graph.
D)  be at least 2" but not more than 5" in height.
E)  are more for style than for substance.F) A) and D)
G) B) and D)

Question 19

The chances of success for a new product are significantly increased if

Accepted Answer

A)  the company sets goals are set that both flexible and adaptable.
B)  objectives are set for the product itself and target market segments are identified for it.
C)  at least 25% of the initial budget includes advertising and promotional expenditures.
D)  all initial production,distribution,and promotion are done in-house where management can exert the greatest quality control.
E)  the firm outsources those elements of production,distribution,or promotion in which it has the least expertise.F) A) and B)
G) C) and E)

Question 20

The primary purpose of the Paradise Kitchen's Company Description section of the marketing plan was to

Accepted Answer

A)  assure the investors of the company's financial health.
B)  introduce all the members and key players in the organization.
C)  describe the product's competition.
D)  explain how the organization will be structured.
E)  highlight the recent history and successes of the organization.F) A) and D)
G) B) and D)

Exam 19: Buildign an Effective Marketing Plan

Shorter tables or graphs

Correct Answer
verified

The Marketing Program section of a marketing plan consists of

Correct Answer
verified

The primary purpose of the Paradise Kitchen's Company Description section of the marketing plan was to

Correct Answer
verified

The Place/Distribution Strategy section in the Paradise Kitchens marketing plan specified that Howlin' Coyote chili will INITIALLY be sold

Correct Answer
verified

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

Correct Answer
verified

A __________ is a road map for the marketing activities of an organization for a specified future time period,such as one year or five years.

Correct Answer
verified

Which of the following goals uses parallel construction?

Correct Answer
verified

Which of the following did Paradise Kitchens considered a Weakness?

Correct Answer
verified

Which of the following statements is best suited for a business or marketing plan?

Correct Answer
verified

Elements in a marketing plan depend on who the audience is and what its purpose is.For example,the marketing plan for an internal audience would __________.

Correct Answer
verified

To translate its core competencies into a sustainable competitive advantage,Paradise Kitchens will work closely with key

Correct Answer
verified

Which of the following statements regarding business or market plan page length is most accurate?

Correct Answer
verified

It can be inferred from the Paradise Kitchens mission statement that they will most likely use a __________ strategy.

Correct Answer
verified

Paradise Kitchens proposes entering 17 new metropolitan markets in the next five years.For this reason,the financial plan cannot use simple trend extrapolation.Instead,the forecasting method used was

Correct Answer
verified

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

Correct Answer
verified

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

Correct Answer
verified

Correct Answer
verified

The chances of success for a new product are significantly increased if

Correct Answer
verified

Charts are often used to and .

Correct Answer
verified

The SWOT analysis section of a marketing plan identifies a company's

Correct Answer
verified

Exam 19: Buildign an Effective Marketing Plan

Shorter tables or graphs

Correct AnswerverifiedShow Answer

The Marketing Program section of a marketing plan consists of

Correct AnswerverifiedShow Answer

The primary purpose of the Paradise Kitchen's Company Description section of the marketing plan was to

Correct AnswerverifiedShow Answer

The Place/Distribution Strategy section in the Paradise Kitchens marketing plan specified that Howlin' Coyote chili will INITIALLY be sold

Correct AnswerverifiedShow Answer

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

Correct AnswerverifiedShow Answer

A __________ is a road map for the marketing activities of an organization for a specified future time period,such as one year or five years.

Correct AnswerverifiedShow Answer

Which of the following goals uses parallel construction?

Correct AnswerverifiedShow Answer

Which of the following did Paradise Kitchens considered a Weakness?

Correct AnswerverifiedShow Answer

Which of the following statements is best suited for a business or marketing plan?

Correct AnswerverifiedShow Answer

Elements in a marketing plan depend on who the audience is and what its purpose is.For example,the marketing plan for an internal audience would __________.

Correct AnswerverifiedShow Answer

To translate its core competencies into a sustainable competitive advantage,Paradise Kitchens will work closely with key

Correct AnswerverifiedShow Answer

Which of the following statements regarding business or market plan page length is most accurate?

Correct AnswerverifiedShow Answer

It can be inferred from the Paradise Kitchens mission statement that they will most likely use a __________ strategy.

Correct AnswerverifiedShow Answer

Paradise Kitchens proposes entering 17 new metropolitan markets in the next five years.For this reason,the financial plan cannot use simple trend extrapolation.Instead,the forecasting method used was

Correct AnswerverifiedShow Answer

Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?

Correct AnswerverifiedShow Answer

There are no magic one-size-fits-all guidelines for writing successful marketing and business plans.Which writing and style guideline below still generally applies?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The chances of success for a new product are significantly increased if

Correct AnswerverifiedShow Answer

Charts are often used to __________ and __________.

Correct AnswerverifiedShow Answer

The SWOT analysis section of a marketing plan identifies a company's

Correct AnswerverifiedShow Answer

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Charts are often used to and .

Correct Answer
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Correct Answer
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